Snowflake (NYSE:SNOW) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Snowflake (NYSE:SNOWFree Report) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Several other brokerages have also weighed in on SNOW. Scotiabank lifted their price objective on Snowflake from $194.00 to $226.00 and gave the stock a sector outperform rating in a report on Thursday, November 30th. Monness Crespi & Hardt raised Snowflake from a sell rating to a neutral rating in a report on Monday, March 18th. Citigroup decreased their price objective on Snowflake from $290.00 to $240.00 and set a buy rating for the company in a report on Monday, March 4th. Piper Sandler reissued an overweight rating and issued a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group reissued a buy rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $202.50.

Read Our Latest Analysis on SNOW

Snowflake Price Performance

Shares of Snowflake stock opened at $158.05 on Tuesday. Snowflake has a 1 year low of $134.17 and a 1 year high of $237.72. The firm has a market cap of $52.04 billion, a PE ratio of -61.98 and a beta of 0.94. The stock has a fifty day moving average price of $196.50 and a 200-day moving average price of $179.56.

Snowflake (NYSE:SNOWGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.80% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. As a group, equities analysts anticipate that Snowflake will post -1.92 EPS for the current fiscal year.

Insider Activity

In related news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark D. Mclaughlin bought 3,030 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the transaction, the director now directly owns 11,687 shares of the company’s stock, valued at approximately $1,933,614.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,355 shares of company stock worth $37,679,411. 8.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the stock. Cigna Investments Inc. New increased its stake in Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after purchasing an additional 51 shares during the period. E&G Advisors LP increased its stake in Snowflake by 3.0% in the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares during the period. Commerce Bank increased its stake in Snowflake by 0.8% in the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after purchasing an additional 51 shares during the period. Parkside Financial Bank & Trust increased its stake in Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Finally, Valley National Advisers Inc. increased its stake in Snowflake by 18.1% in the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after purchasing an additional 53 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

(Get Free Report)

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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